Key Takeaways
- • Kalshi has raised $1 billion in a new funding round that values the prediction-market startup at $40 billion, according to the company.
- • The round was co-led by Sequoia and Wellington, with Tiger Global Management and Dragoneer Investment Group also participating, per a source familiar with the matter.
- • Kalshi is using the capital to expand beyond event contracts in sports and elections into a multi-asset trading platform, putting it in more direct competition with traditional exchanges such as CME Group and Intercontinental Exchange.
Summary
Kalshi, the New York-based prediction-market startup, has raised $1 billion in a new funding round that values the company at $40 billion, the company said. The round was co-led by Sequoia and Wellington, while Tiger Global Management and Dragoneer Investment Group also took part, according to a source familiar with the matter.
The fundraising supports Kalshi's effort to move beyond its prediction-market roots, which have centered on sports and election event contracts, and become a multi-asset trading platform. That strategy places the startup in more direct competition with established exchange operators, including CME Group and Intercontinental Exchange, the parent of the New York Stock Exchange.
The article does not provide further details on the company's revenue, trading volumes, or specific timing for launching new asset classes.
The fundraising supports Kalshi's effort to move beyond its prediction-market roots, which have centered on sports and election event contracts, and become a multi-asset trading platform. That strategy places the startup in more direct competition with established exchange operators, including CME Group and Intercontinental Exchange, the parent of the New York Stock Exchange.
The article does not provide further details on the company's revenue, trading volumes, or specific timing for launching new asset classes.
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